TECHNICAL CORNER
MASTER ELECTRICIANS
WHAT ARE ELECTRICAL CONTRACTORS CHARGING ?
GETTING YOUR PRICING RIGHT IS A CRITICAL PART OF YOUR WHOLE BRANDING STRATEGY – AND NEW RESEARCH FROM MASTER ELECTRICIANS AUSTRALIA HIGHLIGHTS THE THINGS TO CONSIDER .
Setting your business ’ s charge-out rates can be the difference between financial success or business failure . There is no ‘ right ’ answer when it comes to how much you should charge . Long term success requires an understanding of your costs , markup , and desired profit margin .
Master Electricians Australia ( MEA ) has surveyed electrical contractors over many years and tracked the charge out rate trends . This year we surveyed more than 600 electrical contractors from different sectors , different States , from capital cities and country towns , and of all different sizes .
The latest survey data is in , and the report has been released ( MEA 2020 Industry Benchmark Report ), it ’ s a fascinating read . The survey shows how the electrical contracting industry is changing and how it has been affected by the COVID-19 pandemic .
Key trends over the 12-month period : 1 . Tradespeople and sole traders increased their charge-out rates , but the rates of apprentices have declined . 2 . Across most industry sectors there was an increase in charge-our rates including for sole traders , tradespeople , and supervisors and managers .
3 . The rates for trade assistants , apprentices and administration and clerical staff declined .
40 GEMCELL . COM . AU OCT – NOV 2021